offers its customers various levels of post-installation O&M services with the objective of optimizing its customers' electrical energy production over the life of the system. The terms and conditions of post-installation O&M services may provide for remote monitoring of system production and performance, including providing performance reports, preventative maintenance, including solar module cleanings, corrective maintenance, and rapid-response outage restoration, including repair or replacement of all system components covered under warranty or major maintenance agreements. The company incorporates information technology platforms to facilitate the management of its solar power systems operating worldwide. Real-time flow of data from the company’s customers' sites is aggregated centrally where an engine applies advanced solar specific algorithms to detect and report potential performance issues. The company’s work management system routes any anomalies to the appropriate responders to help ensure resolution. Solar panel performance coefficients are established through independent third-party testing. The SunPower Monitoring System also provides customers real-time performance status of their solar power system, with access to historical or daily system performance data through its customer Website (www.sunpowermonitor.com). The SunPower Monitoring System is available through applications on Apple and Android devices. Some customers choose to install digital signs or kiosks to display system performance information from the lobby of their facility. The company typically provides a system output performance warranty, separate from its standard solar panel product warranty, to customers that have subscribed to its post-installation O&M services. The system output performance warranty expires upon termination of the post-installation O&M services related to the system. The warranty excludes system output shortfalls attributable to force majeure events, customer curtailment, irregular weather, and other similar factors. For leased systems, the company provides a system output performance warranty with similar terms and conditions as that for non-leased systems. The company calculates its expectation of system output performance based on a particular system’s design specifications, including the type of panels used, the type of inverters used, site irradiation measures derived from historical weather data, its historical experience as a manufacturer, EPC services provider, and project developer, as well as other design considerations, such as system shading. The warrantied system output performance level varies by system depending on the characteristics of the system and the negotiated agreement with the customer, and the level declines over time to account for the expected degradation of the system. Actual system output is typically measured annually for purposes of determining whether warrantied performance levels have been met. The company’s primary remedy for the system output performance warranty is its ongoing O&M services which enable it to identify and remediate potential issues before they have a significant impact on system performance. The company also has remedies in the form of its standard product warranties and third-party original equipment manufacturer warranties that cover certain components, such as inverters, to prevent potential losses under its system output performance warranties or to minimize further losses. Customers The company’s scope and scale allow it to deliver solar solutions across all segments, ranging from consumer homeowners to the major commercial and governmental entities in the world. The company’s customers typically include investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners and small commercial building owners. It leverages a combination of direct sales as well as a partner ecosystem to reach its global customer base. The company works with development, construction, system integration, and financing companies to deliver its solar
sunpower corp (SPWR:NASDAQ GS)
77 Rio Robles
San Jose, CA 95134
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